Vestwell
Founded Year
2016Stage
Series D | AliveTotal Raised
$240MValuation
$0000Last Raised
$125M | 9 mos agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
+62 points in the past 30 days
About Vestwell
Vestwell operates as a financial technology company focusing on savings and investment programs for both businesses and individual savers. The company offers a range of products including workplace-sponsored retirement plans, employer-sponsored student loan repayment benefits, and various savings accounts for education, emergencies, and individuals with disabilities. Vestwell's platform serves a diverse clientele, including financial advisors, employers, third-party administrators, financial institutions, payroll providers, government agencies, and individual savers. Vestwell was formerly known as Hello401. It was founded in 2016 and is based in New York, New York.
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Vestwell's Product Videos
Vestwell's Products & Differentiators
Retirement Plans
Vestwell offers small businesses an affordable, user-friendly, and full-service workplace savings platform. We regularly benchmark our fees against the industry to ensure that they’re competitive and that every employee receives strong value-for-money – a typical Vestwell plan costs less than the industry average. Vestwell’s modern, intuitive, design makes navigating our platform a breeze - from streamlined digital onboarding to managing investment strategies and more. And we integrate with today’s leading payroll providers to simplify eligibility and payroll processing. Our full-service administrative capabilities include operations, servicing, and 3(38), 3(21), and/or 3(16) compliance to better protect businesses and their investments.
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Research containing Vestwell
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Vestwell in 5 CB Insights research briefs, most recently on Sep 11, 2024.
Expert Collections containing Vestwell
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Vestwell is included in 4 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
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Wealth Tech
2,528 items
Companies and startups in this collection digitize & streamline the delivery of wealth management. Included: Startups that offer technology-enabled tools for active and passive wealth management for retail investors and advisors.
Financial Wellness
245 items
Track startups and capture company information and workflow.
Fintech
9,294 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Latest Vestwell News
Sep 20, 2024
Vestwell, Commonwealth, FuturePlan partner to bring new pooled employer plan to market. Reported by Vestwell has continued its relationship with Commonwealth Financial Network to launch a pooled employer plan called the Gateway 401(k) Plan. The PEP will be available to Commonwealth’s network of affiliated advisers and will include administrative and compliance support from third-party administrator Ascensus’ FuturePlan. Under their existing partnership, savings platform Vestwell provides recordkeeping and third-party administrator services to individual business clients of Commonwealth advisers. The expanded collaboration now includes the launch of the Gateway 401(k) Plan, which Aaron Schumm, Vestwell’s founder and CEO, described as a milestone. “Commonwealth is a key partner of ours, and we’re excited to offer their advisers the Gateway 401(k) Plan solution,” Schumm said in a statement. “We spent a lot of time collaborating on this PEP solution, so it is exciting to bring this to life with a great partner like Commonwealth to scale their advisers’ businesses while generating more opportunities for everyone to access retirement savings programs.” Vestwell will serve as the pooled plan provider for the Gateway 401(k) Plan, overseeing recordkeeping, payroll processing and administration, while FuturePlan brings its expertise in compliance, testing and plan design. Commonwealth, a business solutions provider for advisers, will also offer investment management services as the 3(38) fiduciary for the plan. The plan includes enhanced fiduciary protection, a benefit typically reserved for large retirement plans. Mathew Powers, vice president of strategic retirement solutions at Commonwealth, noted the rising demand for streamlined retirement plan solutions. “We’re seeing increased demand from our affiliated advisers and their clients for retirement plan solutions with streamlined processes that reduce administrative burdens to make workplace retirement saving solutions more accessible,” Powers said in a statement. “Vestwell’s advanced technology ensures our advisers can evolve, scale, and expand their practices while delivering optimal solutions to clients.” Tags
Vestwell Frequently Asked Questions (FAQ)
When was Vestwell founded?
Vestwell was founded in 2016.
Where is Vestwell's headquarters?
Vestwell's headquarters is located at 360 Madison Avenue, New York.
What is Vestwell's latest funding round?
Vestwell's latest funding round is Series D.
How much did Vestwell raise?
Vestwell raised a total of $240M.
Who are the investors of Vestwell?
Investors of Vestwell include Primary Venture Partners, FinTech Collective, Fin Capital, Blue Owl Capital, HarbourVest Partners and 23 more.
Who are Vestwell's competitors?
Competitors of Vestwell include Human Interest and 5 more.
What products does Vestwell offer?
Vestwell's products include Retirement Plans and 2 more.
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Compare Vestwell to Competitors
Betterment operates as a digital investment advisor focusing on automated investing and savings services within the financial technology sector. The company offers a range of products including automated portfolio management, and tax-advantaged retirement accounts that aid personal finance management for individuals. Betterment provides diversified investment portfolios, tax-loss harvesting, and financial planning tools to help clients achieve their financial goals. It was founded in 2008 and is based in New York, New York.
FOLIO provides an algorithm-based service, which acts as an automated money manager for lower fees and less initial capital than traditional services but also provides a thematic investing platform where users can select investment opportunities from a variety of trends and technologies. The company was founded in 2016 and is based in Tokyo, Japan.
SigFig focuses on digital wealth management solutions within the financial services industry. The company offers a suite of products that facilitate effortless and compliant account opening, client onboarding, investment management, and financial planning for various financial institutions. SigFig's solutions cater to banks, credit unions, wealth management firms, insurance companies, and individual investors. It was founded in 2006 and is based in San Francisco, California.
Wacai operates as a fin-tech company. It develops an online personal financial management platform that provides users with wealth management services and credit solutions. The company was founded in 2009 and is based in Hangzhou, China.
Raisin provides a savings and investment marketplace. It allows users to compare savings products from banks and credit unions. The company also offers various tools to help users find savings products as per their needs. It was formerly known as SaveBetter. The company was founded in 2012 and is based in Berlin, Germany.
Guideline provides affordable retirement plans and IRAs, operating within the financial services industry. The company offers customizable retirement plans for businesses of all sizes, as well as retirement accounts for individual savers, including first-time savers and experienced investors. Guideline primarily serves the small business sector and individual investors. It was founded in 2015 and is based in Burlingame, California.
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